- Baidu has filed a trademark application for Metaverse despite recent warnings from the authorities.
- Members will be able to use the full functionality of XiRang after signing in via various devices such as PCs, phones, and wearables, including seeing, listening, and interacting with people in their chosen avatar on a Möbius strip-shaped planet.
Despite the government’s restriction on bitcoin and an anticipated ban on the metaverse, Chinese internet company Baidu stated that it had filed its metaverse trademark.
On December 27, Baidu, Inc. (NASDAQ: BIDU and HKEX: 9888), a top AI business with a strong Internet base, will conduct Baidu Create, China’s first metaverse conference, via its metaverse platform XiRang.
The platform, dubbed “Land of Hope,” allows up to 100,000 online guests to interact with around 100 renowned speakers from across the world at the three-dimensional virtual reality conference. Creator City, a three-day event that honours the creators’ spirit by displaying the seamless connection between the virtual and real worlds, has one main forum and 20 sub-forums. Baidu will share its technology breakthroughs and applications in various cutting-edge fields, including artificial intelligence, autonomous driving, intelligent transportation, quantum computing, and biocomputing, and encourage developers and inventors from all over the world to join.
Baidu may not be the only large company in China’s internet business with its metaverse trademarks. According to a Chinese insider, companies such as NetEase Global and Alibaba have registered to trademark the phrase “metaverse.” In addition, TikTok’s parent firm, Bytedance, has also applied for the trademark.
After signing in via various devices, such as PCs, phones, and wearables, members will be able to enjoy the full functionality of XiRang, including seeing, listening, and interacting with others in their designated avatar on a Möbius strip-shaped planet. In a matter of seconds, users will be able to immerse themselves in the city of the future, complete with prominent architectural features such as China’s Shaolin Temple and the Sanxingdui Museum, an important archaeological site in Sichuan.
Metaverse is swiftly gaining traction as the next big thing on the internet. China, which has a powerful government, is now attempting to outlaw cryptocurrency in the metaverse. The Chinese official media cautioned citizens not to fall for Metaverse-related frauds last week.
“China’s state media Xinhuanet warned about #Metaverses and #cloudmining scams. More and more scammers in China are using concepts like metaverse, blockchain and cloud mining to lure ppl in and take their money.” https://twitter.com/btcinchina/status/1471068193376837635?s=20
According to a Grayscale research report released last month, the number of Metaverse users increased by 10X in just one and a half years.
Furthermore, according to Grayscale’s analysis, metaverse has the potential to become a crucial component of Web 3.0, similar to how Facebook played a role in Web 2.0.
“The Web 2.0 mobile internet changed how, where, when, and why we used the internet. In turn, this changed the products, services, and companies we used, which changed our business models, culture, and politics – the Web 3.0 Metaverse has the potential to do the same.”
According to the analysis, if the Metaverse world keeps growing at its current rate, it may become a trillion-dollar enterprise by next year. The graph below depicts the increasing number of Metaverse wallets, which reached new highs in the fourth quarter of 2021.
The Web 3.0 economy is already a trillion-dollar sector in the making, which is one of the main reasons why companies like Facebook are overhauling their branding.